Legacy Oil and Gas Inc. (LEG.TO) Buy, Sell or…

Legacy Oil and Gas Inc. (LEG.TO)

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-0.00 (0.00%)

63 watching

DON'T BUY

Likes management. Asset base is attractive. Company stalled a bit on their volumes. Has been decimated. Company has some good will. There is still some vulnerability especially with tax loss vulnerability. You want to own it for the long term, but not now. The market has thrown these stocks away. Just be patient before buying.

BUY

Great entry point. Like a lot of the others it is oily and it is a junior. Down 58% from its peak. CEO is a smart guy. Lot of growth in the back half of the year. Look for them to demonstrate that growth and grow through lower oil prices.

DON'T BUY

With the big fall off and that they have a star management team has made him look at it. Last year was very challenging. Very high development costs. We need to see a couple of quarters of positive momentum with this.

BUY

Likes Legacy (LEG-T), Angle (NGL-T) and Renegade (RPL-X). They’ve all been hammered in this market because of the rush to create liquidity in portfolios and concerns that oil has broken through the $80 level. This one trades well below NAV and has some very interesting plays coming up. Good management.

BUY

Junior, oil weighted producer in western Canada. Considered it a better buying opportunity now than earlier. Near a bottom.

HOLD

(Market Call Minute.) Although it looks cheap, she would hold off until she saw a reversal in stock price.

BUY

Very oily. Likes it. Trading at about 50 cents on the dollar to net asset value. He thinks it is completely fine. Number of shares outstanding that are shorted is rather high.

TOP PICK

Eric’s theme tonight is “Getting something for nothing”. Down 40% in 3 months. Market is telling you that these guys could go on vacation for the rest of their careers. You could just produce the wells, collect the cash flow and the value of that proved cash flow is more than the current market cap. You're getting $2.8 million of assets. Stupidly cheap.

BUY ON WEAKNESS

He just doesn't see the strength in this sector right now. Expects that it is at the support where the risk/reward could be quite good. Let it come down a bit, preferably close to $7. Put a stop in 2%-3% below the $7.

HOLD

This one has been slaughtered but is currently into major support. When you start to see buying in the sector, he feels the worst is over.

TOP PICK

About 85% of their business is oil. Looking for 25% more production as well as more earnings per share growth, etc. Should be about $25 of value in 3 years. Drilled about 99 wells last year and hit all 99.

WATCH

Given the high oil weighting and track record of management, is high on his list as a possible addition to his portfolio. 2012 was a disappointing year operationally due to weather. Findings/development costs were $47 a barrel, which doesn't make for good economics in their drilling. A bit of a “show me” story this year.

BUY

Primarily viewed as a n oil company.. Hiccup in the last month due to concerns due to costs. Announced in the last couple of days. $10 is a good entry point. Eventually it will get to $15 or $16 over the net year or two. Lot of hedge funds and fast money own this stock.

TOP PICK

Been weak. Reporting tomorrow. Stock has been punished to a stupid level. Management is strong. Very well run. If they cut production growth rate from 10%-5%, they could pay a dividend over 8%.

SELL

This name a lot but if you own, you should take your profits now and Buy back in on a pullback. Currently trading at pretty much of a premium.

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Legacy Oil and Gas Inc. (LEG.TO)